youtor.org
16a More on CV and EV
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Video Source: www.youtube.com/watch?v=lYPHNXRd220
In this video, I use calculus and some basic algebra to augment the graphical intuition from Lecture 16 on compensating and equivalent variation. In particular, I demonstrate how CV and EV are areas under Hicksian demand curves, and use this intuition to argue that these concepts are closely related to changes in consumer surplus. • • For a list of videos and links to them (organized by topic), check out the Intromediate Microeconomics video web page: • • http://blog.thisyoungeconomist.com/p/...
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